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New Venture Creation
Abstract
New Venture Creation: Entrepreneurship for the 21st Century, Canadian Edition, addresses the needs of upper-level entrepreneurship and new venture courses. Timmons provides strong, comprehensive theoretical coverage balanced with practical examples and cases, all designed to instruct students on how to formulate, plan for, finance, launch, manage, and eventually harvest a new venture. Timmons, Canadian Edition, is a rigorous, practical, and experiential text. The hands-on approach gets students thinking, planning, and ready to execute their own businesses. The text is practitioner-focused, features an especially rigorous section on financials, and focuses on high-growth, innovative ventures. Timmons covers the process of getting a new venture started, growing the venture, and successfully harvesting it. Through text, case studies, and hands-on exercises, this "how-to" text guides students in discovering the concepts of entrepreneurship and the competencies, skills, tools, and experience that will equip them to recognize entrepreneurial opportunities. Acknowledging that there is no substitute for actually starting a company, the Timmons authors believe it is possible to expose students to many of the vital issues and immerse them in key learning experiences that result in successful new venture creation.
... Independent companies that are at least 51% held by immigrants are known as immigrant-owned companies [10]. ...
... Entrepreneurs should be able to recognize market possibilities and be prepared to seize these chances by providing the required goods and services. The opportunity comprises fixed qualities associated with a good or service, such as dependability, appeal, and timeliness [10]. Many business owners view finance as a necessary starting point for every company. ...
... Many business owners view finance as a necessary starting point for every company. However, Timmons and Spinelli contend that a firm needs a good "opportunity" with excellent and qualified team members to succeed in the long run [10]. The team members and the entrepreneur's leadership are critical factors in a startup's success. ...
—Immigrant entrepreneurship arises from the start of
entrepreneurial activity by immigrants in the country they relocate to.
The future prosperity and stability of the refugee-hosting countries
depends on the mutual social and economic benefits between the
residents and the refugees. Syrian refugees and workers in host
countries necessitate efforts to assist their residents and refugees in
meeting their daily needs, contributing lawfully to local and possibly
regional economies through trade, and instilling hope in their future.
This study investigates the effects of Syrian refugee entrepreneurs on
host communities' business sectors, focusing on Turkey. Specifically,
we examine entrepreneurship in general and its role in the country's
economy. Because Turkey is the most popular resettlement destination
for Syrian refugees, this study will shed light on the challenges of
successful migrant entrepreneurship in Turkey and their role in the
business sector. The research relies on a mixed-method approach
which helps identify recurring themes, favorable results, and
conflicting results across methods, allowing us to draw accurate
conclusions. The study will adopt a quantitative method in collecting
numerical data from Syrian refugees in Turkey. The self-administered
survey would be translated into Arabic to ensure that the respondents
understood the questions and possible replies. The research will use
survey questionnaires to gather the majority of the data. These surveys
would have closed-ended questions with nominal ratio and Likert
scales. The data will be analyzed using linear regression and the
Statistical Package for Social Sciences (SPSS) to ascertain the role of
Syrian entrepreneurs in the business sectors of Turkey. The research
will use the findings to make future recommendations. Syrian
entrepreneurs, among the migrant entrepreneurs, contribute to the
labor market, the majority of whom are young people. This research
noted the significant participation of Syrian immigrant women in the
entrepreneurship sector. The previous experience of Syrians in the
field of trade and running their own business plays a vital role in the
success of their business in the host countries. The study shows that
Syrian entrepreneurs could integrate effectively into the various
Turkish business sectors and could rely on themselves, open and
manage their projects, and market them in the Turkish market. Syrian
entrepreneurs consider that the investment and labor laws, commercial
arrangements, and facilities for obtaining financial resources in Turkey
need to be more flexible and available to immigrant entrepreneurs.
... This study has identified twelve elements from various definitions of entrepreneur or entrepreneurship, which collectively most identically could define and describe the entrepreneur or entrepreneurship. These elements are risk bearing (Reuters, 1982;Cantillon, 1755), innovation (Drucker, 1985), value creation (Fayolle, 2008), rational thinking (Filion, 2004), identifying opportunity (Timmons & Spinelli, 2004;Timmons, 1989;Meredith et al., 1982), action orientation (Baty, 1981) In recent decades, psychological well-being or mental health has been turned into a focal concern that involves the brains and interests of specialists, associations, professionals, and strategy makers working in different settings around the globe. The consequence of repeating perceptions is that well-being is connected to various human conditions. ...
Entrepreneurship is differentiated by decision-making ability, competition, economic gains, autonomy, and socioeconomic settings that provide a foundation for an individual to strive and run a venture in a highly competitive environment. In the present context, this study examines the relationship between empowerment and the psychological wellbeing of women entrepreneurs. This study attempted to analyze the various aspects of psychological wellbeing responsible for women's entrepreneurship. This research is apt in the present time as entrepreneurial ventures are considered to be the most critical factors that would help both urban and rural populations through the creation of jobs, rescue them from unemployment and poverty, and thereby have an impact on the development of skills, self-esteem, and self-sufficiency of women.
... While some believe it is possible for all individuals to be innovative, it appears that due to personality factors, creating new ideas is easier for some than others. It has been noted that a preference for innovation clearly differentiates entrepreneurs from managers (Timmons, 1990). Managers tend to be more adaptive (Buttner & Gryskiewitz, 1993), and to be rewarded for their competence and efficiency (Schein, 1985) rather than for innovation and creative destruction (Schumpeter, 1934). ...
Entrepreneurial career choices are impacted by entrepreneurial mindset, family background and cultural values. Entrepreneurial mindset includes for example innovativeness, proactiveness, and risk-taking capacity, and entrepreneurial education has been found out useful in enhancing these qualities. Here the interest is to see how the intensive 3-weeks innovation and entrepreneurial camp impacts on the students’ entrepreneurial attitudes compared to international data sample. The 95 students representing mostly USA and European countries filled in the questionnaire which focused on identifying qualities they would need if they would start own business. This data set was compared with the data over 1000 students from various countries. Several differences were found, indicating that those students, who have learnt profoundly about entrepreneurship emphasize different qualities than those with more general level knowledge.
... En común con muchos otros campos académicos de estudio, existe poco consenso general en cuanto a una definición mundialmente aceptada de la capacidad emprendedora. Por ejemplo, según Timmons (1994), la capacidad emprendedora tiene que ver con la creación de algo valioso a partir prácticamente de la nada. Es el proceso de creación o de tomar una oportunidad, así como la persecución de ésta independientemente de los recursos personales en verdad controlados, mientras que Hisrich y Drnovsek (2002: 175) se acercan a la definición en la manera siguiente: "…la creación y dirección de nuevos negocios, pequeños negocios y negocios de la familia, y las características y los problemas especiales de los emprendedores". ...
... According to Timmons-Spinelli (2003), "entrepreneurship is a way of thinking and acting that is opportunity-oriented, holistic in approach, and balanced by governance (leadership)". ...
... According to Timmons (1994), capital needs differ depending on the stage of a venture's development. For example, young ventures may use capital from internal sources such as retained earnings and informal sources such as family and friends; however, as the venture expands, more capital would be needed, and they would need to look to external sources. ...
Entrepreneurship is widely recognized as a pivotal force driving profitable growth and sustainability. It serves as a notable avenue for enhancing female participation across various economic strata. In recent years, scholarly attention on women entrepreneurs has burgeoned, challenging the traditionally male-centric discourse within entrepreneurship literature. Female entrepreneurship assumes a crucial role in fostering economic development and sustainability. This study contributes to the expanding body of literature on women's entrepreneurship by providing a theoretical framework elucidating the contemporary status of women entrepreneurs in India and Tunisia. Employing a cross-sectional research design, the study employed both quantitative and qualitative methodologies, utilizing surveys and focus group discussions to gather data. The sample comprised 160 participants, including 80 women entrepreneurs and 80 non-entrepreneurs from both India and Tunisia. Analysis of the data was conducted using SPSS and MS Excel. The findings underscore that women entrepreneurs exhibit enhanced well-being compared to their non-entrepreneurial counterparts. This underscores the significance of well-being not only in the development of women entrepreneurs but also in fostering societal sustainability. The implications of the study extend to providing evidence-based recommendations for advancing women's entrepreneurship in India and Tunisia. Key recommendations include governmental involvement in alleviating challenges impeding women in business and facilitating funding opportunities to ensure sustained business growth.
The paper focuses on the profile of enterprise owners and stages involved in the development of bamboo based enterprises in Dimapur District, Nagaland. By using Five Point Likert Scale, data was collected from 82 bamboo based enterprises in the area of study and analyzed to draw a meaningful conclusion by using factor analysis. Out of the four different stages of enterprise development namely survival stage, growth stage, maturity stage and recession stage, adopted in the study, the first two stages of enterprise development were found among the bamboo based enterprises in the area of study.
Entrepreneurs bring an enormous contribution to a country’s economic growth. Developing individual’s interest into new venture creation represents an important asset, especially for less developed countries where entrepreneurial activities are fundamental in enhancing economic growth. The recent economic crisis turned the attention of European policymakers towards entrepreneurship as a driving force for the creation of new job opportunities, regional/national competitiveness and growth. The aim of this article is to verify what relations are between locus of control, need for achievement and entrepreneurial intention of youth, following a cognitive approach and how much entrepreneurial education consolidates entrepreneurial skills and informs the young that entrepreneurship is a career option. This study focus to determine the effectiveness of personality traits among women entrepreneurs. The originality of this study lies in its focus on personality traits on social rather than commercial entrepreneurship. It is hoped that the findings will trigger a paradigm shift towards greater social entrepreneurship
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